Summary

Protection of alien property interests has been a major of concern of international investment law since time immemorial. In the Middle Ages Kings and emperors sought to protect their merchant nationals through inter-personal relationships with host state kings in whose territories the traders transacted businesses. But where such friendly relationship did not exist or broken down, force was often used by stronger home states to subdue weaker states. Such combination of bilateral agreements and 'gun-boat' diplomacy to protect a state's nationals continued well into the 20th ...